VANCOUVER (miningweekly.com) – Crop inputs and services provider Nutrien has agreed to sell its nearly 14% stake in Israel Chemicals through a private secondary offering of all of the 176.09-million shares it owns.
NYSE- and TSX-listed Nutrien expects to receive about $700-million in net proceeds from the transaction, which is expected to close on January 23, subject to conditions.
The shares will only be offered to qualified institutional buyers under Rule 144A and to persons outside the US under Regulation S.
Nutrien is a new global plant nutrients and services provider, formed through the ‘merger of equals’ Potash Corporation of Saskatchewan and Agrium Inc on January 1. The company produces and distributes more than 25-million tonnes of potash, nitrogen and phosphate products around the globe.